Teck Resources Limited (NYSE:TECK) Stake Boosted by Baldwin Investment Management LLC

Baldwin Investment Management LLC boosted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 76.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,035 shares of the basic materials company’s stock after purchasing an additional 4,775 shares during the quarter. Baldwin Investment Management LLC’s holdings in Teck Resources were worth $576,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TECK. Eastern Bank acquired a new stake in Teck Resources in the third quarter worth $39,000. Headlands Technologies LLC acquired a new stake in shares of Teck Resources in the 2nd quarter worth about $38,000. Bruce G. Allen Investments LLC lifted its position in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the period. Finally, Blue Trust Inc. grew its position in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $46.24 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company has a market capitalization of $23.26 billion, a PE ratio of 70.05 and a beta of 1.04. The stock has a fifty day moving average of $48.89 and a 200-day moving average of $48.50. Teck Resources Limited has a one year low of $35.60 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. Teck Resources’s revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. As a group, equities analysts anticipate that Teck Resources Limited will post 1.83 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.0895 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s payout ratio is 56.06%.

Analyst Ratings Changes

Several research firms recently commented on TECK. Scotiabank raised their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.